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Thursday, 30 January 2014

REA agents claim houses near pylons will lose value

REA Agents based along EirGrid's
controversial national pylon routes have condemned the project, claiming it
devalues properties and delays sales along the potential corridors.The auctioneers warned property along the
potential corridors has become increasingly hard to sell.

"It is our opinion that close
proximity to pylon-borne power lines reduces the values of all properties
enormously for perceived health reasons," the group wrote in its
submission to Eirgrid's public consultation process.

"Whether those reasons are valid
or not is not relevant. The fact is that buyers stay away from power lines.
Severe discounting compared to similar properties is needed to sell."

The final route is expected to run
between Knockraha, Co Cork; Great Island, Co Waterford; and Dunstown, Co
Kildare and REA said it was advising clients and communities "that this
project will damage property values enormously".

"In valuing a property, all banks
ask on their pro-forma valuation reports about existing or prospective
developments that may injure the value of the property," the auctioneers
said.

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"We feel we must disclose a
development such as Gridlink as a negative factor on these valuation
reports," they stated.

REA said it was aware of a number of
properties along proposed routes which have been devalued, or for which the
sales process has been brought to a standstill, as a result of Eirgrid's
Gridlink plans and public consultation process.